US securities regulator launches new accounting enforcement team
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FILE PHOTO: Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly/File Photo
NEW YORK, Aug 5 (Reuters) - The U.S. Securities and Exchange Commission said on Wednesday it is establishing a specialized enforcement unit focused on accounting and financial reporting cases.
• Timothy Zimmerman, who joined the SEC's Division of Enforcement in May 2026 as a senior advisor, will lead the unit.
• "This new unit – which expands on the division's current and historical efforts to crack down on bad actors in the accounting and auditing profession – will be critical in our efforts to (pursue) financial reporting fraud, as well as accounting and auditor misconduct more generally," SEC Enforcement Director David Woodcock said in a statement.
• The unit will pursue accounting and financial reporting fraud cases, as well as general misconduct in accounting and auditing areas.
• It will be staffed by lawyers and accountants with specialized skills related to financial reporting and accounting.
• The SEC's statement confirms reporting from Reuters and other news outlets that the agency was forming the unit.
(Reporting by Chris Prentice; Editing by Will Dunham)
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